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HIGH SPEED BRIDGING LOANS
A bridging loan is a short term loan that is secured on property and can be used for a host of reasons:
1) Complete the purchase of one property before the sale of another.
2) Auction purchases.
3) Commercial Property Development.
4) Land Purchase.
5) Residential Development.
6) Buy to Let.
7) Fast completions.
8) Capital raising to clear an urgent requirement.
9) Temporary funding for new start business.
10) Non status loans sometimes available.
The various bridging loan products available can allow for a very quick completion.
Terms 1 month - 12 months.
Bridging loan lenders will secure the loan on first and possible second charge basis, also on non status schemes. So even if you have a poor credit record, CCJ’s, arrears etc. are not always a problem. Bridging loans are usually for any amount between £25,000 and £5,000,000. Typically these bridging loans can be up to 70% of the value of any property already owned in England and Wales less the outstanding mortgage.
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